Articles about Carousel Fraud

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Hefty porridge for £300m VAT ring

Five members of a missing trader fraud gang have received sentences of up to four and a half years for a £17m scam based around mobile phones, HMRC revealed yesterday. The gang nobbled the revenue in a "complicated" fraud centred on mobile phones, SIM cards, memory and other mobile phone accessories. HMRC said paperwork …
Joe Fay, 3 Dec 2010
For Sale sign detail

VAT fraudster gets 9 years for refusing £40m bill

Emmanuel Hening, already serving the longest sentence ever secured against a VAT-fraudster, has seen another nine years added onto his sentence. A court last week added to his 15-year sentence because he has failed to repay £40m demanded by Her Majesty's Revenue and Customs. Vat fraudster Henning Hening, who has dual …
John Oates, 22 Nov 2010
For Sale sign detail

Carousel fraudsters must pay back £92m

Her Majesty's Revenue and Customs is demanding two convicted carousel fraudsters pay back £92m in cash, cars and properties or face an extra ten years in prison. The gang of 21 were sentenced to a total of 74 years in May. They ran a massive missing trader or carousel fraud importing computer chips from Ireland VAT-free and …
John Oates, 8 Jul 2010
globalisation

Chips-for-gold fraud gang get 74 years' jail

A 21-strong gang of CPU-dealing VAT fraudsters have been sentenced to a total of 74 years in prison. Reporting restrictions on Operation Devout were lifted today following sentencing in the seventh and final trial related to the complex organised crime network. The gang were involved in importing CPUs, mainly from Ireland. …
The Register breaking news

Revenue U-turns on carousel carbon trading

Her Majesty's Revenue and Customs said that from midnight last night all trades in carbon credits will be VAT-free, because of fears that carousel fraudsters, who usually fraudulently exploit computer chips and mobile phones, will target the trade. Carousel fraud or Missing Trader Intra-Community fraud occurs when goods are …
John Oates, 31 Jul 2009
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UK extends VAT crackdown as EU OKs cut-rate cobblers

The EU has given the green light to the UK to extend its reverse charge VAT scheme aimed at cracking down on carousel fraud. The two year extension to the UK's efforts to claw back VAT on alleged dodgy mobile phone and computer chip deals came at a meeting of European finance ministers that also OK'd a raft of VAT changes to …
Joe Fay, 11 Mar 2009
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VAT fraudster must repay £26m

A convicted VAT fraudster has been ordered to pay Her Majesty's Revenue and Customs £26m or serve an extra ten years in prison. Craig Johnson is already serving 12-and-a-half years for his part in a missing trader or carousel fraud which defrauded the Revenue of £138m. The confiscation order means Johnson must cough up £8m …
John Oates, 24 Nov 2008

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